Canara Bank offers an applicant, one of the best gold loan deals with the lowest gold loan rate of 7.65%, available for both of its existing bank customers as well as new borrowers. The jewel loan interest rate varies by the amount of loan, purity of gold, and loan to value ratio at Canara Bank. The Canara Bank gold loan can be availed for meeting the needs of personal expenses like a loan for children’s education, marriage, and other situations like any financial emergency in the family as well as for business purposes. In case if you are planning to take a Loan against Gold from Canara Bank, you need to know the few details of its gold loan schemes that are provided by the bank to the customers
The purpose of a Gold loan is to meet the requirements of personal and business expenses. The collateral submitting against the loan for the security of your gold jewelry as a mortgage with the Canara Bank. There are various types of Gold accepted by the Canara Bank like the Gold jewelry of up to 50 grams which has a purity of 18 to 22 carat. Canara Bank offers jewel loans to all individuals who are above 18 years of age including, self-employed professionals, businessmen, students, pensioners, and housewives, and salaried individuals.
The process of Canara Bank for the documentation is very simple and smooth. The applicant just needs to submit one proof of identity and one proof of address to get a gold loan along with simple proofs like individuals applying for the gold loan must have basic identity proofs PAN Card, Driving License, Passport, Voter’s ID Card, Aadhar Card and address proof like applicants for Voter’s ID Card, Aadhar Card, Rent Agreement, Utility Bills, Bank Statement is to be submitted with the Canara Bank.